The Polymer Concrete Market is estimated to be valued at US$ 795.16 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Polymer concrete consists of aggregate, monomer, and reactive filler. It offers durability, high corrosion & chemical resistance, and low permeability. These advantages make polymer concrete suitable for use in manufacturing manhole liners, pipes, trenches, flooring blocks, and other building & construction structures. The unique properties of polymer concrete allow its use in infrastructure projects involving water containment and transportation of chemicals. Market key trends: One of the major trends driving the growth of the polymer concrete market is the increasing infrastructure development projects worldwide. Government bodies across countries are spending heavily on roadways, bridges, tunnels, and other civil infrastructure development. Polymer concrete finds wide application in such construction projects due to its excellent mechanical strength and durability even in harsh & adverse conditions. It is increasingly being used for manufacturing sewer pipes, manhole liners, and other precast elements that are corrosion and chemical resistant. The widespread infrastructure development activities are thus augmenting the demand for polymer concrete over the forecast period. Porter’s Analysis Threat of new entrants: The threat of new entrants is moderate as the polymer concrete market requires significant capital investment and technical expertise. Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of numerous suppliers in the polymer concrete industry offering similar products. Bargaining power of suppliers: The bargaining power of suppliers is high as raw materials used in polymer concrete such as resins, aggregates, admixtures have few substitutes. Threat of new substitutes: The threat of new substitutes is low as polymer concrete has advantages over traditional concrete. Competitive rivalry: Intense. SWOT Analysis Strengths: Polymer concrete offers durability, resistance to corrosion, and is lightweight. Weaknesses: High initial costs and limited expertise available. Opportunities: Increasing infrastructure development and repair projects. Growing demand from construction industry. Threats: Fluctuations in raw material prices. Availability of substitutes like traditional concrete. Key Takeaways The global Polymer Concrete Market Growth is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing infrastructure development projects across the globe. The Asia Pacific region dominates the global polymer concrete market and is expected to grow at the highest CAGR during the forecast period due to rapid urbanization and industrialization in China and India. Regionally, the market in North America is projected to account for the largest share of the global polymer concrete market during the forecast period. This dominance is attributed to increasing repair and rehabilitation activities in the region's aging infrastructure. Key players operating in the polymer concrete market are BASF SE, Sika AG, Wacker Chemie AG, Dudick Inc., ACO Group, Kwik Bond Polymers LLC, Sauereisen Inc., Hubbell Power Systems Inc., Forte Composites, Inc., Ulma - Architectural Solutions, and Sandmix. Read More, https://www.newsstatix.com/polymer-concrete-market-trends-size-and-share-analysis/
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